Friday Free-for-all! Rates, Pop, HPI, Dip

It’s the end of another week, time for a long weekend!

And since it’s Friday that means it’s time for our regular end of the week news round-up and open topic discussion thread for the weekend.

Here are a few recent links to kick off the chat:

Banks in trouble if bubble pops
WTF is the HPI?
Cost of debt dips
High end sales dip just a blip?
Crash fears rising
US new home sales slide
China RE price drop trigger protests

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent long weekend!

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TC
Guest
TC
Westside Realtor
Guest
Westside Realtor

Received a call this AM.

HAM couple, husband and wife. They have several properties here.

“Why no offers on our (one) listing?”.

After going through that, they told me to push the pricing on this to get it sold, and to ready the other properties for sale now.

Again, this is all anecdotal vs Oracle (and his alias’) cold hard stats, but this is what causes me to think that the high end market is turning and could be in for a significant rout.

If it is so, not sure why anyone would be shocked, in retrospect, by a meltdown.

cris
Guest
cris

a Dodge won’t last for 8 years. Need cmhc insurance, package them and securitize them, trip AAA ratings,

dyugle
Guest
dyugle

Well the “high end sales dip just a blip” article in the Globe and Mail does state that the last two months had sell list under 10% for high end homes in Vancouver. Considering that Paul’s numbers show a very healthy sell list one has to put more faith in Westside’s claims. After all he has been bleating about this for the past two months and the article sure bears out what he is saying.
I hope he is right; but right or wrong I already decided to wait for the next recession to play out.
Good luck all.

PNE parking stories
Guest
PNE parking stories
I live right in the thick of it. The traffic congestion they cause is absurd, and I have caught them trying to sell my parking as well. God forbid you park on front of one of their houses (totally within your rights to do if you live on the block) they will double Park or block your driveway and start screaming. They are not acting with any sense of dignity or respect for their neighbors. Makes me want to start a meth lab. — My ex girlfriend lived on Windermere ages back and these two tiny little old Asian ladies totally canvassed the entire block “selling” any spare chunk of land that would fit a car. Until my ex’s neighbour comes out and goes “what the shit!? Whos fucking cars are these!?” And the little old ladies, mid “transaction” get… Read more »
PNE parking stories
Guest
PNE parking stories

not sure why old asian ladies scamming car owners and then getting them towed is “beautiful”, but there you go.

Westside Realtor
Guest
Westside Realtor

Thank you Dyugle, appreciated.

My thoughts/opinions fully reflect my current experiences and the views shaped by them.

Get Creative...
Guest
Get Creative...
Received a call this AM…. (to my make believe office ) 🙂 HAM couple, husband and wife. They have several properties here….(of course they do) 🙂 “Why no offers on our (one) listing?”….. (said the make believe clients) 😉 After going through that, they told me to push the pricing on this to get it sold, and to ready the other properties for sale now. (insert bearish HAM statement) about fleeing the city en masse 🙂 Again, this is all anecdotal vs Oracle (and his alias’) cold hard stats, but this is what causes me to think that the high end market is turning and could be in for a significant rout….(insert general bearish market commentary with no quantitative value but with a qualifier to try to defend my useless statement) 🙂 If it is so, not sure why anyone… Read more »
Get Creative...
Guest
Get Creative...

‘Considering that Paul’s numbers show a very healthy sell list one has to put more faith in Westside’s claims. After all he has been bleating about this for the past two months and the article sure bears out what he is saying…..’

Hmmm….trust Paul’s stats that have been religiously delivered and accurate for years, or follow the GM and a make believe realtor who has failed to provide one piece of quantitative data despite apparent access to the ‘inside’ information…

Choices, choices

a-non-mouse
Guest
a-non-mouse

Give it up already. We get it, you have a hard on for westside realtor/Romeo Jordan. I think the people that frequent this site can make up their own minds about him/her and will down/up vote accordingly. Some people like anecdotal evidence, some people like stats and the votes, by design, will take care of it. Stop with the incessant attacks already. Give the readers here some credit for being able to tell a sheep from a wolf or a HAM from a over-stretched middle class debtor.

Bo Xilai
Member
Bo Xilai

Beijing Cracking down on Naked Officials…

I wonder how many of these crooks are in the Lower Mainland…

http://www.scmp.com/news/china-insider/article/1581807/beijing-cracks-down-its-naked-officials

CC
Guest
CC

russia is making it’s move. is china far behind? knowing the chinese they will wait for russia and the west to be fully embroiled in conflict before stepping in.

Chump
Guest
Chump

Just got back from a several week camping tour of the interior (Vernon, Revelstoke, Summerland, Princeton). It’s staggering the number of for sale signs out there! Even in the boonies, off on 4WD logging roads: for sale signs everywhere.

UBC in crisis mode
Guest
UBC in crisis mode

Duplex asking price lower than assessed?!

6012 Chancellor Blvd (UBC) assessed: $1,882,000, asking: $1,839,000 (150 days)
http://www.realtylink.org/prop_search/Detail.cfm?MLS=v1056467&REBoards=All&From=MLS

6072 Chancellor Blvd (UBC) assessed: $2,408,000, asking: $2,390,000
(70 days official, two years on and off)
http://www.realtylink.org/prop_search/Detail.cfm?MLS=v1071709&REBoards=All&From=MLS

Note: these two units have $800 + monthly condo fees

Melting
Guest
Melting

I trust most of people give their insights and opinions here. Paul’s daily sales number is healthy, my understanding is big number of sales are from condos, cheap houses, but not over million… Any thought?

LS in Arbutus
Guest
LS in Arbutus

@14 I know can you imagine an $800 a month maintenance fee?! My friend rents a 2800 sqare foot townhouse for $2,800, on the west side. It would sell for approx $1 million. It’s older, but nice, but ripe for special assessments. The complex has a swimming pool and nice grounds. The maintenance fee is over $600 a month. Do the buy/rent analysis on that one. It’s WAAAAAAAY cheaper to rent. The fact that rents do not support these prices is a huge red flag.

hongcouver
Guest
hongcouver

Armoured China vehicles cause alarm in Hong Kong

news.yahoo.com/chinese-army-vehicles-cause-alarm-hong-kong-070708344.html

there are 300,000k canadian citizens in HK. what if they decide to come ‘home’.

Harry Wang
Guest
Harry Wang

B.C. tour bus crashes on Coquihalla Highway, 43 injured, 5 critically
Richmond-based Super Vacation organized trip for visiting Chinese nationals

http://www.cbc.ca/news/canada/british-columbia/b-c-tour-bus-crashes-on-coquihalla-highway-43-injured-5-critically-1.2749862

Oracle
Guest
Oracle

@hongcouver

If China invades Hong Kong, buy a SFD or two ASAP in Metro Vancouver. I garuantee you will retire within 1 year..

The 300 Thousand rich there will not stay there and flood Vancouver.

George
Guest
George

Here’s a headshaker. Unbelievable the courts are even letting this go to trial:

“A 22-year-old woman is suing her ex-boyfriend to pay tuition for a class she says she failed due to distress over the breakup.

Roopam Plawn is a marketing student at Thompson Rivers University in Kamloops and was a contestant earlier this month in the Miss India-Canada pageant, held in Toronto.

Plawn says in her notice of claim that she is seeking $500 for the class, $600 for anxiety, depression, insomnia and loss of working time and performance and $250 for “severe distress.”

http://www.vancouversun.com/news/metro/Kamloops+student+sues+boyfriend+tuition+failed+class+after/10161342/story.html

paulb
Member
Active Member

New Listings 146
Price Changes 52
Sold Listings 104
TI:16011

For weekly sales and/or listing updates on a specific neighbourhood/city email me and I will add you to my Friday list. http://www.paulboenisch.com

PNE parking situation
Guest
PNE parking situation

more from the front lines:

what really annoys me is the assholes that take their cars off their driveways, park in the resident only parking spots on the streets, and then sell their spots..
If they get rid of that residential only parking it’s because of those pricks..
quit waving your fucking cardboard sign at me.. i’m not parking… i’m just passing by.

http://www.reddit.com/r/vancouver/comments/2evhzh/if_you_absolutely_must_drive_to_the_pne_dont/

George
Guest
George
@PNE parking situation I hear ya. A few days ago I was driving in that area, not even going to the PNE. It’s absolute chaos with these people waving signs at you. You slow down to turn a corner and they come running towards you like they think you’re going to park with them. It could be distracting to inexperienced drivers, especially with so much congestion on those side streets. I don’t know how they get away with it. You need to get a permit from the city and pass through auditions just to be a street busker in this city. Some kids in PoCo a few years back had their lemonade stand shut down because they didn’t have a permit from the city. But these people who live near the PNE can create traffic chaos and a potentially dangerous… Read more »
east vaner
Guest
east vaner

Hearing about the ‘parking pimps’ reminds me of another problem. An old Asian women came into my back hard garden with a bag and picked my tomatoes. When I saw her she started to run away. I managed to get my tomatoes back, but what the fuck? Who does that to their neighbors?

fitzrovia
Guest
fitzrovia

The averages may actually come down this month, despite some late great HAM buying like another $3.5 M today

Fingers crossed.
probably wont know until Tuesday but an average that is still dropping would be a hard for to spin.

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